SMM Daily: Hot-Rolled Coil Transactions Drop 24.3% on October 29th

**[SMM Daily Hot-Rolled Coil Transactions]** On October 29th, the total daily hot-rolled coil transaction volume of sample enterprises across SMM's four cities (Shanghai, Lecong, Tianjin, Ningbo) amounted to 11,270 tonnes, marking a daily decrease of 3,610 tonnes or -24.3% compared to the previous day.

The futures market experienced volatile weakness, leading to a chill in trading sentiment. Speculative demand dried up, and many downstream terminals retreated to the sidelines. Consequently, hot-rolled coil transactions were relatively poor.